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the president proposeds closing tax loopholes which disor the the economy, that we reform entitlements so they are there for future generations and we make smart spending cuts while we support investment in things like infrastructure today, where we still have tremendous need to improve our infrastructure, put more construction workers back to work right now and raise our competitiveness in the future so our businesses can do better going forward. >> dr. alan krueger thank you very much for joining us. >> thanks for having me, tyler. >>> the housing boom has created more than 150,000 new construction jobs just in september, but it's still not enough in housing as builders struggle to higher enough qualified workers. diana olick has the story. >> reporter: for the nation's home builders, there are finally signs of life again. construction is coming back. unfortunately, skilled construction workers are not. >> they got burned during the downturn and so the appeal of running back to an industry that burned them a few years ago is not there. >> reporter: the nation did add 17,000 new resid
the president proposeds closing tax loopholes which disor the the economy, that we reform entitlements so they are there for future generations and we make smart spending cuts while we support investment in things like infrastructure today, where we still have tremendous need to improve our infrastructure, put more construction workers back to work right now and raise our competitiveness in the future so our businesses can do better going forward. >> dr. alan krueger thank you very much...
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not after these recent tax hikes. you're not surprised by this, but alive means of broad face this is. >> anytime you have a change in trend you're always going to have the first drop. you're looking for this for sure because we know historically spending cuts and tax hikes do put pressure on the consumer. they going to stop going to the mom before they sell there stock? of course they are. now we know that some of these economic problems and have some problems are coming. markets and an all-time high but responsible fiscal and market traders are watching that first year to drop because we do have issues. it is a first shoe dropped. retail sales. the consumer runs the economy ultimately. lisa to see the personal income being allocated differently. it could signal a reversal. neil: the fact of the matter is that markets climb a wall of war rienzi past bumps along the way. the point so overall retail sales still up over what they were one year ago. bumps along the way, but steady as she goes from here. what do you think
not after these recent tax hikes. you're not surprised by this, but alive means of broad face this is. >> anytime you have a change in trend you're always going to have the first drop. you're looking for this for sure because we know historically spending cuts and tax hikes do put pressure on the consumer. they going to stop going to the mom before they sell there stock? of course they are. now we know that some of these economic problems and have some problems are coming. markets and an...
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Mar 4, 2013
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tea party taxed enough already. the federal government gets enough revenue, it's about time to lower the rate of spending, lower the size of government. >> this is a great debatet what you want to have, how big a government do you want to have, things like sequester, the operation of government, raising of the debt ceiling all are opportunities to try to achieve the kind of result the american people need, just go back to the debates between hamilton and jefferson, the beginning of the country. >> john: do you see that as being a healthy part of the discourse? >> do i. i actually think that bringing people to the table with different perspectives is a core strength of the common and working through those perspectives and find a common ground that serves the people is what we should be doing as elected officials. >> john: now the cuts begin, the real question he how they'll play in the long run both economically and politically. if the sequester is is a tea party victory, then it is also the first true test of the te
tea party taxed enough already. the federal government gets enough revenue, it's about time to lower the rate of spending, lower the size of government. >> this is a great debatet what you want to have, how big a government do you want to have, things like sequester, the operation of government, raising of the debt ceiling all are opportunities to try to achieve the kind of result the american people need, just go back to the debates between hamilton and jefferson, the beginning of the...
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Mar 8, 2013
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listen. >> tax cuts are spending. tax expenditures they're called. >> that's what nancy calls spending. mike huckabee says it's not spending when you're letting people keep they're hard-earned money. that's a common theme with her. >> the common theme with liberals and the presumption is your money belongs to the government and they let you have what they think that you need according to their standard. and that's the most nonsensical thing about how economics functions that one could ever here, -- hear and it's why democrats believe higher taxes are fine because the believe their power to tax is right in keeping with their idea that it is their money. they're just getting -- >> sounds like when they say that, that lowering your taxes, leading you keep more of your money, is spending. they think they deserve all of it and you're lucky to have what they give you. >> absolutely. its their money. if they give you some taxes back, they've spent money because they've let you keep your own in their world in this magical wor
listen. >> tax cuts are spending. tax expenditures they're called. >> that's what nancy calls spending. mike huckabee says it's not spending when you're letting people keep they're hard-earned money. that's a common theme with her. >> the common theme with liberals and the presumption is your money belongs to the government and they let you have what they think that you need according to their standard. and that's the most nonsensical thing about how economics functions that...
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Mar 2, 2013
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. >> the president got his tax hikes on january 1. this discussion about revenue, in my view, is over. it's about taking on the spending problem here in washington. >> woodruff: the president now has until just before midnight to issue an order that makes the cuts official. it will be weeks before many of the effects are felt. but within days, federal agencies will start sending out notices that hiring freezes and furloughs are coming. in addition, the associated press reported 2,000 illegal immigrants in detention were released in recent weeks to save money on jail costs. the administration had said the number was a "few hundred." and newly installed defense secretary chuck hagel said today the military is implementing the largest cuts in nearly 30 years. >> let me make it clear that this uncertainty puts at risk our ability to effectively fulfill all of our missions. >> woodruff: the army has curtailed training for nearly 80% of combat brigades. and in norfolk, virginia, home to the navy's atlantic fleet, the aircraft carrier "harry
. >> the president got his tax hikes on january 1. this discussion about revenue, in my view, is over. it's about taking on the spending problem here in washington. >> woodruff: the president now has until just before midnight to issue an order that makes the cuts official. it will be weeks before many of the effects are felt. but within days, federal agencies will start sending out notices that hiring freezes and furloughs are coming. in addition, the associated press reported...
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Mar 5, 2013
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talk about your tax dollars at work. spending money on portraits of officials. >> they are selling the thin mints or caramel de lights. why are robbers targeting these girl scouts in three different states? first on this day in history back in 1963, that little thing, the hoola hoop was patented. [ female announcer ] the best thing about this bar it's not a candy bar. 130 calories 7 grams of protein the new fiber one caramel nut protein bar. >> good morning. you are watching "fox & friends first". i am ainsley earhardt. >> i am heather nauert. it is time for the top 5@5:30. bakersfield police are now doing a criminal investigation over a retirement community after a woman died after a nursery fused to give her cpr. >> police aren't releasing the name of that nurse involved in that call just yet. officials at the facility defending her actions saying company policy prohibits employees from performing cpr because they are not a skilled nursing facility. police say so far they haven't found any laws that were broken. >> we
talk about your tax dollars at work. spending money on portraits of officials. >> they are selling the thin mints or caramel de lights. why are robbers targeting these girl scouts in three different states? first on this day in history back in 1963, that little thing, the hoola hoop was patented. [ female announcer ] the best thing about this bar it's not a candy bar. 130 calories 7 grams of protein the new fiber one caramel nut protein bar. >> good morning. you are watching...
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Mar 9, 2013
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these are tax cut, tax loopholes. but it's spending just the same as if it were in the budget itself. giving these tax loopholes to oil companies, to companies that ship jobs overseas, legislattin people pay 15% on their dividend. if we were to do something about these tax expenditures, we could save $1.5 trillion from the deficit. we could cut it, yes. >> congresswoman jan schakowsky, appreciate your time tonight. >>> now let's turn to david k. johnson, pulitzer prize-winning journalist and peter maurici from the university of maryland. gentlemen, good to have you with us. peter, you first. can we admit tax increases did not kill jobs at this point? >> no, i don't think so. i have a burden of having a degree in economics. i'll tell you this. if you -- i understand it doesn't count for much here. >> yes, it does. it does, but, i mean come on now. we've added jobs when we have raised taxes on the wealthiest americans. >> simply added less jobs is like jobs -- if you raise taxes, you take money out of people's pockets t
these are tax cut, tax loopholes. but it's spending just the same as if it were in the budget itself. giving these tax loopholes to oil companies, to companies that ship jobs overseas, legislattin people pay 15% on their dividend. if we were to do something about these tax expenditures, we could save $1.5 trillion from the deficit. we could cut it, yes. >> congresswoman jan schakowsky, appreciate your time tonight. >>> now let's turn to david k. johnson, pulitzer prize-winning...
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Mar 8, 2013
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director, and took him to tax over the bogus claim that the sequester is affecting vaccine supplies to the children in maryland. watch this hysterical exchange. >> what did the president's budget do to 317. >> the president's prospective budget for 2013. >> does 58 cut sound familiar. >> what does the sequester cut, 30 million sound familiar? do you think that's around the ballpark, isn't it? so actually, the president cut the program twice as much as his budget, could i assume that the the president's proposed cut would have reduced funding to 4,100 children in maryland? >> as per the justification that was published with that, we've looked at ways that we can run the program more efficiently by helping state and local health departments, recruitment dollars for education. >> you can't do it under a sequester, but you can do it under the president's budget. the president's cut of 358 million dollar to the program do you think you can get around that to avoid cutting vaccines to children, but under a sequester, that the-- that the president blames on republicans, you don't know if you
director, and took him to tax over the bogus claim that the sequester is affecting vaccine supplies to the children in maryland. watch this hysterical exchange. >> what did the president's budget do to 317. >> the president's prospective budget for 2013. >> does 58 cut sound familiar. >> what does the sequester cut, 30 million sound familiar? do you think that's around the ballpark, isn't it? so actually, the president cut the program twice as much as his budget, could i...
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Mar 2, 2013
03/13
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you don't impose more tax rates on productive behavior. or diverting resources from the productive sources of the economy. >> you're both great. i got to go. >> we'll see what happens. >> sometimes when you come east i want to take you to dinner with the great french economic philosophier who wrote around 1800. >> as long as we go to a cheap restaurant. >> he said we produce in order to consume, rocket reich and that's one thing i haven't been able to teach you all these years. >> i want to go to a cheap restaurant and i'll take you out. >> thank you gentlemen. i want to get back to how the sequester will affect your money. stocks are ever so close to their all time highs. it looks like stocks are supporting the budget cuts. later, what is the explanation for the feds releasing 2000 illegal immigrant detainees last month and another 3,000 in march? is anybody taking responsibility for this? homeland security chief janet napolitano says it wasn't her idea. free market capitalism is the best path to prosperity. a smaller ghost boosts the fre
you don't impose more tax rates on productive behavior. or diverting resources from the productive sources of the economy. >> you're both great. i got to go. >> we'll see what happens. >> sometimes when you come east i want to take you to dinner with the great french economic philosophier who wrote around 1800. >> as long as we go to a cheap restaurant. >> he said we produce in order to consume, rocket reich and that's one thing i haven't been able to teach you all...
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Mar 5, 2013
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each year, treasury males over 40 million individual income tax refund checks come each year. the majority of individuals are receiving those checks and searches and direct deposit and having those refunds deposited into an account, those individuals are low and moderate income. in fact, 60% of those check recipients are making less than $30,000 a year. as part of her effort to replace all checks with electronic payment, and to test out the mechanism of offering an account aim specifically at the unbank tax pilot, treasury piloted offering families the option of having their tax refund direct deposited into a reloadable debit card, what we term the my account cart. a random sample of lower income families were given the option of receiving thei the refund ine my account carpet every household received one of six offerings. each account had a different feature that we predicted could influence rates. we tested accounts with features that these verses accounts that did not have peace. we tested accounts that had an attached savings account. against accounts that didn't have savi
each year, treasury males over 40 million individual income tax refund checks come each year. the majority of individuals are receiving those checks and searches and direct deposit and having those refunds deposited into an account, those individuals are low and moderate income. in fact, 60% of those check recipients are making less than $30,000 a year. as part of her effort to replace all checks with electronic payment, and to test out the mechanism of offering an account aim specifically at...
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. >> the reason tax expenditures are the solution is tax expenditures are how we spend through the tax code. if you are a republican who thinks we have a spending problem and lots say they do, you want to cut them because they are just like spending. on the other hand they generate a lot of revenue. you like them too. >> seeing a republican -- >> former chief economist. >> they said it's the good thing to go after. throw up the graphic to give them an idea. over $1 trillion a year. medicaid, social security and nondefense discretionary. a huge amount of money. there is a $5,000 dependent child care tax credit. i use it and they withhold the money from my salary at the end of the year and i use that to pay the person that provides child care for my daughter and i cake that off my taxes, right? the value of that $5,000 is $2,000. the government writes me, cable tv host a check for $2,000 for the child care. if you are paying the lowest rate, the margin is lower. it's upside down. >> in the value of that is lower, but that's the example you want to use. someone who is a lower income brack
. >> the reason tax expenditures are the solution is tax expenditures are how we spend through the tax code. if you are a republican who thinks we have a spending problem and lots say they do, you want to cut them because they are just like spending. on the other hand they generate a lot of revenue. you like them too. >> seeing a republican -- >> former chief economist. >> they said it's the good thing to go after. throw up the graphic to give them an idea. over $1...
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another massive tax increase coming from obama. >> where's the tax increase? >> you heard the code words, balanced approach. house republicans -- harry reid interested in a budget for the first time in four years? come on. give me a break. >> look, the american people want republicans to come to the table. they support a balanced approach. they support compromise and people working together and right now they're trusting the president more than they trust congress. so if republicans want to improve their deficit in terms of popularity, they need to come to the table. >> we're not buying who struck john over the sequester. >> i'm fascinated that regular order actually could produce something, because we don't have a debt deadline just yet. we're going to get enough rank and file people here to have their say. could that build up a deal? >> we like to be optimistic, but even know deadlines seem to be far away, nothing seems to be done till the last second. both sides, the party bases are polarized. >> that's the story that's been amazing to me is some of us wil
another massive tax increase coming from obama. >> where's the tax increase? >> you heard the code words, balanced approach. house republicans -- harry reid interested in a budget for the first time in four years? come on. give me a break. >> look, the american people want republicans to come to the table. they support a balanced approach. they support compromise and people working together and right now they're trusting the president more than they trust congress. so if...
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republican leaders say they're not at all interested in discussing more taxes with the president. the tax issue derailed talks over how to derail the sequester, now administration officials say those budget cuts forced them to cancel all public tours of the white house. now more proof that d.c. can argue about anything, the "wall street journal" editorial reads in part this fits president obama's political strategy to punish eighth graders visiting from illinois instead of, say, employees of the agriculture department who will be sampling wine and sampling tasty dishes prepared by special guest chefs. critics also criticized the cancellation of tours. >>> with more republicans embracing immigration reform, former governor jeb bush is looking to stake out his issue on the issue. in the past he favored a path to citizenship for millions of undocumented workers, but his new book says they should be given permanent legal status instead, but his stance seemed to change during a series of interviews. >> let's wait a few minutes and see how jeb bush changes his mind again. his opinion on
republican leaders say they're not at all interested in discussing more taxes with the president. the tax issue derailed talks over how to derail the sequester, now administration officials say those budget cuts forced them to cancel all public tours of the white house. now more proof that d.c. can argue about anything, the "wall street journal" editorial reads in part this fits president obama's political strategy to punish eighth graders visiting from illinois instead of, say,...
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that would mean we take taxes on marijuana, we pay taxes on prostitution, we would pay taxes on other pursuits of happiness so the government has no right to interfere with. that it's all the economic problem. that is my suggestion. host: another caller suggested issuing bonds, like war bonds. guest: the larger solutions we need is some sort of resolution on how much money we bring it to the federal government and how much money we want to spend. right now those things are out of whack. it is an issue of the taxes and spending rather than some of these other things like buying bonds. host: newcastle, pennsylvania on the power line for democrats. you are on the "the washington journal." caller: thank god we have john boehner because we have someone there with some sense that is going to look out for the american people. -- after january the first husband has actually lost about $85 per month out of his paycheck with the raise in taxes. mr. obama said it is just going to be on the rich people. we make about 50,000 people per year -- 50,000 per year. we are not rich. since he has been in
that would mean we take taxes on marijuana, we pay taxes on prostitution, we would pay taxes on other pursuits of happiness so the government has no right to interfere with. that it's all the economic problem. that is my suggestion. host: another caller suggested issuing bonds, like war bonds. guest: the larger solutions we need is some sort of resolution on how much money we bring it to the federal government and how much money we want to spend. right now those things are out of whack. it is...
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Mar 6, 2013
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state sales tax. response.s get a guest: it turns out that the federal work force, because you are going to pay for some of the effects of the layoffs on sequestration. we will be laid off certain sectors. kindergarten teachers. 70,000 children are going to lose head start. white house tours are closed. not out of spite, but because we are cutting back on the secret service. we are having snow in washington. the weather service and even first responders, the federal work force, we have been looking carefully at that. we have been making the cuts there. i hope that things are not -- i have gone to, beach, by the way, which is right in your area and one of the most heavenly places on earth. you need the federal government to help with your roads and your road repair. so, when we ask people what we think you should cut, they are certainly not saying medicare and social security. 80% of people think that we should not cut those programs and i agree. host: congressman janice schakowsky, top democrat on the
state sales tax. response.s get a guest: it turns out that the federal work force, because you are going to pay for some of the effects of the layoffs on sequestration. we will be laid off certain sectors. kindergarten teachers. 70,000 children are going to lose head start. white house tours are closed. not out of spite, but because we are cutting back on the secret service. we are having snow in washington. the weather service and even first responders, the federal work force, we have been...
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Mar 4, 2013
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tax, financial transaction tax. ladies and gentlemen, you need some real direct funding of your federal authority to be credible and to be effective. so in a union that does not work well, because of ineffective governance. it's not only an institutional issue, not only institutional problem, it is, in fact, people and economies that suffer most from the. let me give you one example. i'm very convinced about it. had the european leaders, for example, decided in december 2009 to help greece immediately and then they should have established, for example, at that moment in december 2009 a new defense mechanism of that budget in exchange for greater financial support, i think we would not be in the crisis we are today in europe. and also i think that many millions of people would not have suffered. but because we have given the impression that we could get out one of the members, monetary union not longer really exit, so the fact of inaction and the cost of ineffectiveness in the european union is for the moment very hi
tax, financial transaction tax. ladies and gentlemen, you need some real direct funding of your federal authority to be credible and to be effective. so in a union that does not work well, because of ineffective governance. it's not only an institutional issue, not only institutional problem, it is, in fact, people and economies that suffer most from the. let me give you one example. i'm very convinced about it. had the european leaders, for example, decided in december 2009 to help greece...
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we ran through the red light of higher payroll taxes, income taxes for the rich, the red light of the sequester which was supposed to change our lives forever. another european recession, higher gasoline prices and finally the red light of the fed staying dovish when the short sellers want the fed to slam on the brakes in order to drive down stocks so they can look better. that's a lot of red lights to run without getting busted. and i don't care how many get out of jail pba cards you got in your wallet. we've made endless illegal u turns. gets hammered. but it's now working its way back. hewlett-packard reports one more weak quarter. and the darn thing's up 47%! best buy continues to drift, the founder withdrawals his attempt to buy the company and you've got a 58% gain! only apple -- >> boo! >> and jc penney -- >> boo! >> have been pulled over their their u-turns, after an inability to return capital for the computer company and endless return of merchandise from jc penney. i can see the staties breaking out the breathalyzer and determining the whole market of investors and traders
we ran through the red light of higher payroll taxes, income taxes for the rich, the red light of the sequester which was supposed to change our lives forever. another european recession, higher gasoline prices and finally the red light of the fed staying dovish when the short sellers want the fed to slam on the brakes in order to drive down stocks so they can look better. that's a lot of red lights to run without getting busted. and i don't care how many get out of jail pba cards you got in...
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Mar 9, 2013
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if you look at the tax code and who can take advantage of the deductions, why should we be giving a tax deduction to some guy that has a yacht just because it has a bathroom? because he can live there, he can deduct it. that seems wrong. there is a need for its poor people -- there is a need for it for people of moderate income. for those higher up the food chain on an income basis, i think you could start to ratchet that down. host: the last caller is from hawaii on the republican line. caller: a purchased by home in 1988 under the fannie mae program which we call hula mae here. through the years, i was able to refinance my home and buy a home for my first daughter. i have a second daughter. last year, i paid off my home. i paid off my loan ahead of time. my concern is when i went to the finance and development corporation to look into helping my second daughter, i noticed they had chinese-begin realtors , korean-speaking realtors. is the government funding these programs to purchase homes for americans? do you have to be an american citizen? are they going to start opening it to non-a
if you look at the tax code and who can take advantage of the deductions, why should we be giving a tax deduction to some guy that has a yacht just because it has a bathroom? because he can live there, he can deduct it. that seems wrong. there is a need for its poor people -- there is a need for it for people of moderate income. for those higher up the food chain on an income basis, i think you could start to ratchet that down. host: the last caller is from hawaii on the republican line....
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>> -- guest: york state excise taxes and in some states that sales taxes on top of that. then you have federal taxes, which are about 18.4 cents. if you look at the average gallon of gasoline at a consumer pays for, it is about 50 cents per gallon in taxes. host: and is it true that the federal government does not allow these gas stations to put how much you're paying in taxes? guest: those, i believe, or state regulations. and i have seen taxes on some palms in some states. it depends on the individual states. host: bobby in alabama, democratic caller. caller: i would like to correct something that your guest implied. i watched the hearings on the pipeline. the question was asked him directly how much of the oil will stay in the united states, and the answer was, none of it, because they have already signed a contract with exxon mobile to export all of it. the reasoning i have come down to in the united states is because they are blocked and do not want to cross canada to the west coast. one more question. the kalamazoo river, they had a big oil leak out there and i thin
>> -- guest: york state excise taxes and in some states that sales taxes on top of that. then you have federal taxes, which are about 18.4 cents. if you look at the average gallon of gasoline at a consumer pays for, it is about 50 cents per gallon in taxes. host: and is it true that the federal government does not allow these gas stations to put how much you're paying in taxes? guest: those, i believe, or state regulations. and i have seen taxes on some palms in some states. it depends on...
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Mar 3, 2013
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tweet us your tax questions. either tweet to @ anhqdc or @ brenda buttner and we will see you next week. back to you, shannon. >> shannon: helpful information. i look forward to that. thank you. >> thank you. >> shannon: another question we have been asking you about today. if you could sit down with mit and ann romney what would you ask them? we asked you to weigh in and you answered. your twitter responses, next. >>> and you at homiest oen say the media doesn't share enough -- you at home often say the media doesn't share enough good stories. up next, a patient who thought his doctor was so good he wanted everybody to know it. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. >>> pretty shocked he was going to do that. >> a nasty fall off a horse left don in need of major surgery and now he is so happy to
tweet us your tax questions. either tweet to @ anhqdc or @ brenda buttner and we will see you next week. back to you, shannon. >> shannon: helpful information. i look forward to that. thank you. >> thank you. >> shannon: another question we have been asking you about today. if you could sit down with mit and ann romney what would you ask them? we asked you to weigh in and you answered. your twitter responses, next. >>> and you at homiest oen say the media doesn't...
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Mar 5, 2013
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but why can't we stop the spending on the tax code, the spending of tax giveaways. they're called tax expenditures. they cost the taxpayer. if you're concerned about how much the deficit is costing every individual american, why don't we calculate how much the tax break for big oil corporations sending jobs overseas the -- oversea the list goes on and on, how much they cost america's working families. there san answer here to be hopeful, we can come together to say ok we all agree, reduce the deficit, cut spending make some changes that we can without hurting beneficiaries, and mandatory spending. why, why, why are these tax loopholes for special interest such sacred cows for the republicans? such sacred cows they won't allow mr. van hollen's bill to come to the floor are they afraid of the debate, afraid of the outcome of their vote. with that, i think the gentleman for his lead -- i thank the gentleman for his leadership on putting forward a balanced proposal to prere-deuce the deficit, to avoid sequestration, which we didn't, but as a counter to what the republic
but why can't we stop the spending on the tax code, the spending of tax giveaways. they're called tax expenditures. they cost the taxpayer. if you're concerned about how much the deficit is costing every individual american, why don't we calculate how much the tax break for big oil corporations sending jobs overseas the -- oversea the list goes on and on, how much they cost america's working families. there san answer here to be hopeful, we can come together to say ok we all agree, reduce the...
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one tax only and you will see changes. you do that and those american companies that went overseas will be coming back here to put people back to work. the other thing is we're spending $1 trillion, $100 billion on senseless wars. stop it. bring the troops home. there is no reason. it is senseless. all this war hague, my god, there are people in this country that do not have food and we are giving billions to a foreign country? let's start with our own country right now. host: we will leave it there. political headlines this morning, "an unexpected proposal." this is from "the washington post." host: also in politics, the front page of "usa." -- usa today." "jeb bush, coming out with a new book." that is the front page of "usa today," this morning. on foreign policy news, john kerry stirs debate on u.s. funds for egypt. some question the $250 million going to the muslim brotherhood. several lawmakers have called for a halt of u.s. assistance to egypt, redirecting the $1.3 billion in military aid that washington sends to ca
one tax only and you will see changes. you do that and those american companies that went overseas will be coming back here to put people back to work. the other thing is we're spending $1 trillion, $100 billion on senseless wars. stop it. bring the troops home. there is no reason. it is senseless. all this war hague, my god, there are people in this country that do not have food and we are giving billions to a foreign country? let's start with our own country right now. host: we will leave it...
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the payroll tax cap. the historical basis for social security finance has been a payroll tax that has been applied up to a cap. the reason this path exists is because the design of social security was to provide -- provide income protection in retirement. since your benefits are proportional to your tax contribution, higher income people did not need the additional benefits. there was no need to take more money from them and paid them additional benefits. the current cap is about 113,000. it is a cap that is adjusted each year. it goes up automatically each year according to the national average wage index. the caller mentioned it was around 106,000. it is now at 113,000. you expected to rise a little each year. host: next is oklahoma on the republican line. good morning. caller: good morning. i am on social security disability. i am 68 years old. i cannot find a doctor, dr. all i can find is b.o.'s. all they want to do is give me a pill and i do not take pills. it is a hardship on me because i am raising
the payroll tax cap. the historical basis for social security finance has been a payroll tax that has been applied up to a cap. the reason this path exists is because the design of social security was to provide -- provide income protection in retirement. since your benefits are proportional to your tax contribution, higher income people did not need the additional benefits. there was no need to take more money from them and paid them additional benefits. the current cap is about 113,000. it is...
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by all means, reform our tax code. but reform is not likely to raise anything near what a growing and aging america is going to need. yes, close more of the egregious loopholes, but we need another broad based sort of revenue. a carbon tax would reform the bill, help reduce the deficit and help us protect the planet from catastrophic weather events and the budget busting disaster relief that inevitably follows. we should for the first time in 20 years increase the gas tax as recommended by the simpson-bowles report, a user fee that will help enable us to provide more support for transportation, put more people back to work rebuilding and renewing america. we should take a lesson from the history and our failed 14-year effort to prohibit alcohol, where the government spent a fortune in a fruitless effort to enforce prohibition, lost a fortune in revenue and made a fortune for the mafia. the underworld cartels of the 1920's. we ought to treat marijuana like we treat alcohol. the federal government regulates and taxes whi
by all means, reform our tax code. but reform is not likely to raise anything near what a growing and aging america is going to need. yes, close more of the egregious loopholes, but we need another broad based sort of revenue. a carbon tax would reform the bill, help reduce the deficit and help us protect the planet from catastrophic weather events and the budget busting disaster relief that inevitably follows. we should for the first time in 20 years increase the gas tax as recommended by the...
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Mar 6, 2013
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to help them catch tax cheats or help americans with questions on their tax forms. moreover no additional money is provided to help the i.r.s. administer new tax credits under the affordable care act, something that will only lead to more confusion. once again, republicans are attempting to extend the federal employee pay freeze for the rest of the year. have we -- had we had a full omnibus bill, and i think with a little work we could have had such a bill, we could have addressed many of these concerns. unfortunately this c.r. is inadequate to the needs of our federal government and to the american people and does mot provide all agencies with the needed flexibility to best deal with the sequester. for that and other reasons, i urge opposition to this bill and i thank the gentlewoman. the speaker pro tempore: the gentleman yields back. the gentlewoman from new york reserves. the gentleman from kentucky is recognized. mr. rogers: i yield one minute to the gentleman from pennsylvania who chairs the transportation and infrastructure committee, mr. shuster,, for the pu
to help them catch tax cheats or help americans with questions on their tax forms. moreover no additional money is provided to help the i.r.s. administer new tax credits under the affordable care act, something that will only lead to more confusion. once again, republicans are attempting to extend the federal employee pay freeze for the rest of the year. have we -- had we had a full omnibus bill, and i think with a little work we could have had such a bill, we could have addressed many of these...
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you have to tackle taxes. the other is you have to look at the very popular entitlement programs like medicare and social security. we have seen a lot of focus on how republicans are digging their heels in. the president faces enormous -- no way can you do anything that would change the benefits given to people under social security and medicare. the things the president are talking about are slowing the growth of entitlements, the payments you get under social security. a majority of house democrats have now signed a letter saying it's a no go for us. he's going to have to do a lot to win over those folks as well. >> lauren, your latest article is about ashlee judd and whether she's going to run for mitch mcconnell's seat in kentucky. here is what he said. >> i think it's looking more and more every day that she's going to run. clearly, mitch mcconnell is panicked. as much as he can be. what are you hearing about this, lauren and what do you think the biggest challenges will be for her if she declares a candi
you have to tackle taxes. the other is you have to look at the very popular entitlement programs like medicare and social security. we have seen a lot of focus on how republicans are digging their heels in. the president faces enormous -- no way can you do anything that would change the benefits given to people under social security and medicare. the things the president are talking about are slowing the growth of entitlements, the payments you get under social security. a majority of house...
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they are saying he wants to raise taxes, he's not even talking about raising taxes, he's talking about closing loopholes. martha: we already got the tax hikes, that's been done pw-r. t*eurbg. >> you do expect a little more from any president. this is the executive. he's supposed to take an active role. he's supposed to ral hraoet country behind his program not take a passive position. martha: he he invited all the members of congress in and wants to talk to them alan said. >> this is a little late. >> a little a little? >> right. it happened five days ago, sequestration. >> he was come forth time and time again with plans that are rejected where. is john boehner's plan. >> i totally get that. martha: the houses put two plans for the already. >> john boehner says let the senate and white house take care of it. martha: john boehner said we have put through two budgets we have to tput put a third through. >> i don't see what boehner is doing right now. the president is proactive lee saying i want to get together. martha: i'm sorry that doesn't make any sense. >> i think the president coul
they are saying he wants to raise taxes, he's not even talking about raising taxes, he's talking about closing loopholes. martha: we already got the tax hikes, that's been done pw-r. t*eurbg. >> you do expect a little more from any president. this is the executive. he's supposed to take an active role. he's supposed to ral hraoet country behind his program not take a passive position. martha: he he invited all the members of congress in and wants to talk to them alan said. >> this...
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a tax reform that raised tax rates would be a bad tax reform. we have not talked much about corporate tax reform or small business here. so many successful small businesses, 3% of businesses, some of it passes through. broader rates would be good for their incentive. we have the highest corporate rates in the world nominally, about 39%. the effective rate is lower. in the high 20's. it is not far out of line. the moving in this direction could be good for the economy in the short run and the long run. i do believe if it were accurately reform -- >> would that tend to have the impact? we have peaks and valleys within that period in 2011, we were in a valley of 14.5%. at times we have gone to a little over 20%. could lowering the rates and broadening the base produce a more stable code? >> it would because the steep progression, some say the rates are too high, we have relative to the other countries, we see the most progressive tax system. they collect more, but we have a more progressive tax system. becomes more volatile. in my own state of cali
a tax reform that raised tax rates would be a bad tax reform. we have not talked much about corporate tax reform or small business here. so many successful small businesses, 3% of businesses, some of it passes through. broader rates would be good for their incentive. we have the highest corporate rates in the world nominally, about 39%. the effective rate is lower. in the high 20's. it is not far out of line. the moving in this direction could be good for the economy in the short run and the...
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. >> make it clear that the president got the tax hikes on january 1st. there is a discussion about the revenue in my view is over. it is about taking on the spending problem here in washington. >> and even though he heard it all before, president obama gave some of the republican delegation the benefit of the doubt yesterday. >> i do know that there are republicans in congress who privately at least say that they would rather close tax loopholes than let these cuts go through. i know that there are democrats who would rather do smart entitlement reform rather than let the cuts go through, so there is a caucus of commonsense up there on capitol hill, but it is a silent group right now. >> of course, we are well past common sense. if we have learned nothing else from the debt deal showdown, the fiscal cliff and now the sequester, it is that putting together a fiscal plan for one of the largest economies in the world apparently has nothing to do with common sense, because here is common sense. common sense tells you that when someone holds out a football, y
. >> make it clear that the president got the tax hikes on january 1st. there is a discussion about the revenue in my view is over. it is about taking on the spending problem here in washington. >> and even though he heard it all before, president obama gave some of the republican delegation the benefit of the doubt yesterday. >> i do know that there are republicans in congress who privately at least say that they would rather close tax loopholes than let these cuts go...
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we need to eliminate a lot of those tax preferences and tax breaks for big oil companies and others, and make sensible targeted cuts in other areas and he reduce the deficit in a smartway. and the alternative plan we proposed we are asking a vote on would accomplish the same amount of deficit reduction as the sequester through this -- through the calendar year, but do it in a way that does not cost 750,000 american jobs, because we don't do it so deeply so quickly. and that's the difference. and that's why bipartisan commissions have recommended the balanced approach to reducing the deficit. again, the numbers for this year, which is the only thing that's relevant in terms of congressional action, is that there have been zero effort, zero times that our colleagues have brought to the floor a proposal to replace the sequester. we are now asking our fourth time this afternoon simply to have a vote. and i hope we can finally get one, mr. speaker. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from indiana is recognized. >> mr. speaker, i yield one
we need to eliminate a lot of those tax preferences and tax breaks for big oil companies and others, and make sensible targeted cuts in other areas and he reduce the deficit in a smartway. and the alternative plan we proposed we are asking a vote on would accomplish the same amount of deficit reduction as the sequester through this -- through the calendar year, but do it in a way that does not cost 750,000 american jobs, because we don't do it so deeply so quickly. and that's the difference....
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. >> i think tax hikes are hoke for republicans as long as we call them tax reform. >> and it's coupled with entitlement reform and it loerz the deficit. if it's way too early, it's "morning joe." stick around. chuck todd begins now. >> a tale of two snaenates as a dozen republicans break bread with president obama. >> plus, as jeb bush kicks up the latest clash over immigration within the republican party, we'll talk to a texas freshman democrat about whether more talk could lead to action. and in a decade after the war in iraq, a report reveals an astonishing account of wasted money, failed projects and little hope of making it better. >> good morning from maryland elementary school in ohio, it's thursday, march 7th, and this is "the daily rundown." now here's chuck todd. >> thank you to those 5th graders there from the maryland elementary school. congratulations on winning our annual county-wide battle of the books. let's go to my first reads of the morning. if there's one issue congress agrees on, it's that president obama doesn't do a good job of reaching out to them. but now after
. >> i think tax hikes are hoke for republicans as long as we call them tax reform. >> and it's coupled with entitlement reform and it loerz the deficit. if it's way too early, it's "morning joe." stick around. chuck todd begins now. >> a tale of two snaenates as a dozen republicans break bread with president obama. >> plus, as jeb bush kicks up the latest clash over immigration within the republican party, we'll talk to a texas freshman democrat about whether...
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it used to be tax income. wealthy people, their income is not a paycheck, it's returns on the market. >> the labor share of income, weekly wage growth is not growing, it's going down. this is a fragile recovery. we say 36 straight months of job growth. that's fantastic. this is uneven, not just on terms of who it benefits, but wage growth. it's income growth. in terms of wages, this is still something that is fragile. this is uneven, too, in terms of who is benefiting in what parts of the country. we'll talk about the jobs report -- >> i don't want to miss that. there were a cupping things i want to make sure we are clear about. capital gains are taxed at a lower rate than wages. when you earn these wages, you are paying out more in taxes. >> mitt romney paid 9%. >> it's the buffett rule. >> it's not a chart, but everybody i talked to said the stock market is at a new high, what do you think? >> the response was to burst into laughter. everybody said maybe it's good, but it sure isn't helping me. >> what's bad
it used to be tax income. wealthy people, their income is not a paycheck, it's returns on the market. >> the labor share of income, weekly wage growth is not growing, it's going down. this is a fragile recovery. we say 36 straight months of job growth. that's fantastic. this is uneven, not just on terms of who it benefits, but wage growth. it's income growth. in terms of wages, this is still something that is fragile. this is uneven, too, in terms of who is benefiting in what parts of the...
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period of tax. >>gretchen: you would think the president would be stimulated to make this kind of decision especially now because today the news is tax revenues in the united states are at a record high. today a record high. but when you have the belief that policies need to spend more, then maybe you don't have that mind-set. >> the president is going the other way on corporate tax rates. he wants to tax worldwide cash and assets and profits as opposed to just the cash repatriated to the united states. the president is raoly now reaching -- is really now reaching, trying to reach outside the united states to money made legally elsewhere. >>brian: jack lew is treasury secretary and this guy took a huge bonus during the market crash. then he says there is money in the cayman islands which he says he had no idea was there. >> it is okay for mr. lew to have money in the caymans but not okay for mitt romney. >>brian: he's a horrible person. >> i didn't say that. >>gretchen: we'll be watching you at 9:20
period of tax. >>gretchen: you would think the president would be stimulated to make this kind of decision especially now because today the news is tax revenues in the united states are at a record high. today a record high. but when you have the belief that policies need to spend more, then maybe you don't have that mind-set. >> the president is going the other way on corporate tax rates. he wants to tax worldwide cash and assets and profits as opposed to just the cash repatriated...
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they are hoping to reopen by march 23rd. >>> paying a tax defendant e- mails. there is a proposal in one east bay city to do just that. what that money would be used for. >>> outside our doors it's a cool start but our morning temps are on the rise. i'm tracking your warmup coming up. here you go little man. [ humming ] [ babbling ] the cheerios bandit got you again? [ both laugh ] ♪ the one and only, cheerios ♪ the one and only, cheerios >>> restaurants in new york city are getting ready for new limits on sugary drinks. no restrictions are set to take effect on tuesday. restaurants are hoping a last minute court challenge will redo the rules. >> i'm surprised. i thought it was soda and iced teas. i didn't know it was coffee. >> the city says it are not enforce violations for three months as restaurants adjust. >>> we are learning about a bay area city councilman's proposal to -- attacks rob e-mail would create needed revenue for the post office as it faces a budget short fall. he also says the tax would create an even playing field. >> one of the reasons i
they are hoping to reopen by march 23rd. >>> paying a tax defendant e- mails. there is a proposal in one east bay city to do just that. what that money would be used for. >>> outside our doors it's a cool start but our morning temps are on the rise. i'm tracking your warmup coming up. here you go little man. [ humming ] [ babbling ] the cheerios bandit got you again? [ both laugh ] ♪ the one and only, cheerios ♪ the one and only, cheerios >>> restaurants in new...
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raise taxes. raise taxes. it's always about raising taxes. you're about to hear from a couple of republican senators who say not raising taxes per se, but we would be in for raising revenue by closing some deductions and things like that, provided it's done for the greater good of the country. here are senators graham and ayotte. >> we don't need to raise taxes to fund the government. we need to raise taxes to get our nation out of debt. we have $16.7 trillion in debt. we need to clean up our tax code to create jobs by flattening it out. not fixing sequestration with more money. >> if we're going to increase revenue again it's got to go to the debt with real entitlement reform and real tax reform when you actually lower rates. i think none of that's been in this discussion. so absolutely i think we need to do a big agreement for the country, because we haven't dealt with the fundamental drivers of our debt: the entitlement programs. >>gretchen: they don't sound so unreasonable? i had to read those sound bites verbatim a couple of extra times
raise taxes. raise taxes. it's always about raising taxes. you're about to hear from a couple of republican senators who say not raising taxes per se, but we would be in for raising revenue by closing some deductions and things like that, provided it's done for the greater good of the country. here are senators graham and ayotte. >> we don't need to raise taxes to fund the government. we need to raise taxes to get our nation out of debt. we have $16.7 trillion in debt. we need to clean up...
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Mar 4, 2013
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it's a payroll tax that funds social security. when wages go up, the revenue into social security goes up. when wages go up faster than inflation, which is the rate of growth of benefits, which affect the rate of growth of benefits, then you have a virtuous cycle for social security financing. right now, social security can meet all its promise obligations for the next 30 or 40 years. whether they will be able to meet all other obligations without a tax increase or benefit cut through 75 or 100 years is a function of whether we do something about job growth and wage growth. host: we're learning the president this morning and caught 15 will make three personnel announcements. he will announce that sylvia burwell will be back at the white house. he would like her to be omb director. she was deputy of staff under bill clinton. she will be in tapped to be the new director of omb. he's expected to nominate his epa chief. as well as a new head of the energy department. he will make those announcements today. i don't know if you have any
it's a payroll tax that funds social security. when wages go up, the revenue into social security goes up. when wages go up faster than inflation, which is the rate of growth of benefits, which affect the rate of growth of benefits, then you have a virtuous cycle for social security financing. right now, social security can meet all its promise obligations for the next 30 or 40 years. whether they will be able to meet all other obligations without a tax increase or benefit cut through 75 or 100...
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Mar 7, 2013
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all they want is just to continue to raise taxes raise taxes, raise taxes. the white house has put forth a plan. house democrats have put forth a plan. senate democrats have put forth a plan. >> that's right. the white house has a plan. the senate democrats put forth a plan that got a majority vote in the united states senate. but because republicans used their blocking tax ticks in the senate it didn't -- tactics in the senate it didn't pass. in the house where the republicans this year, in this new congress, right they've na not put -- they've not put forward one single proposal to replace the sequester. we have, the democrats, have now asked four times for a vote. so every time speaker boehner says where's your plan? we say mr. speaker, we got one. you haven't let us vote on it. four times, you've denied an opportunity to vote. you may want to vote no. although, you know, i think the american people would far prefer the alternative that we proposed to the massive disruption of job loss we'll progressively see. but they haven't even allowed a vote. this is
all they want is just to continue to raise taxes raise taxes, raise taxes. the white house has put forth a plan. house democrats have put forth a plan. senate democrats have put forth a plan. >> that's right. the white house has a plan. the senate democrats put forth a plan that got a majority vote in the united states senate. but because republicans used their blocking tax ticks in the senate it didn't -- tactics in the senate it didn't pass. in the house where the republicans this year,...
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something that looks at can you tackle the deficit with a combination of taxes and entitlement reform. those are issues that may prove to be even bigger than those billions of dollars in cuts. don. >> emily schmidt in washington. thank you very much. >>> new research shows, if you want to be happy as you get older, maybe you should pick up one particular past time of today's generation. what is it? that's next. but first, this. >>> for more than 400,000 children living in foster care, the small things that can make a big difference in the life of a child are often out of reach. but this week's cnn hero has found a way to give a little piece of childhood back to those who often have no one to ask. meet danielle gleeto. >> i have been in and out of foster care for most of my life. when you move from place to place, you don't really get the same connections that your peers have. you get very insecure. you don't think that people really care about your desires and wishes. >> when i became a foster parent, i realized, a lot of these children decide that it's not worth wishing anymore, beca
something that looks at can you tackle the deficit with a combination of taxes and entitlement reform. those are issues that may prove to be even bigger than those billions of dollars in cuts. don. >> emily schmidt in washington. thank you very much. >>> new research shows, if you want to be happy as you get older, maybe you should pick up one particular past time of today's generation. what is it? that's next. but first, this. >>> for more than 400,000 children living...
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so high levels of intake of things like vitamin a there can be serious tax isty. >> it might not be hard to get to that level if you are eating a diet replete in that ingredient. the window of what is recommended and the upper tolerable slelve not huge for a nutrient like vitamin a. for vitamin b there is a wide range of what is recommended and we don't own know what is a toxic level of vitamin b-12. it's hard to identify one. nevertheless taking high levels of anything, you should think about why you are doing that. so that gets to the notion of dose. sometimes it is very valuable to talk with your physician about what might be a recommended intake. he can't give you a prescription for it. she can't tell you that this is the perfect dose for you because we don't really know those pieces of information. but you should be alert to the fact that dose can make a difference. very high doses of some things can be of concern. and then the dosing schedule is another thing you might want to be thinking about. the other piece of advice that i would give you if you are thinking about supplements d
so high levels of intake of things like vitamin a there can be serious tax isty. >> it might not be hard to get to that level if you are eating a diet replete in that ingredient. the window of what is recommended and the upper tolerable slelve not huge for a nutrient like vitamin a. for vitamin b there is a wide range of what is recommended and we don't own know what is a toxic level of vitamin b-12. it's hard to identify one. nevertheless taking high levels of anything, you should think...
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>> oh, i think republicans want to see pro-growth tax reform, right? we think it is one of the main drivers of an economy, to lower rates, do away with loopholes. we think that's something missing right now in this economic model that we have. so, yes, it is going to take some time. i do think you're right, you know, the election cycle will start right back up next january unfortunately so i think most of us believe that the next four or five months is the most fruitful time for something to happen. but again, martha, what we want to see is real structural reforms to these entitlement programs and for the first time i do think the president spoke to that last night. at the same time, look, we come at these things with differences. we need to focus on the common areas, build upon that and do something that is great for this nation. martha: we know that in a couple of hours he will sit down for lunch with paul ryan. >> right. martha: there are more meetings scheduled with democrats and republicans on the hill next week. this is one of the main things tha
>> oh, i think republicans want to see pro-growth tax reform, right? we think it is one of the main drivers of an economy, to lower rates, do away with loopholes. we think that's something missing right now in this economic model that we have. so, yes, it is going to take some time. i do think you're right, you know, the election cycle will start right back up next january unfortunately so i think most of us believe that the next four or five months is the most fruitful time for something...
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. >> tucker: but it's the same film-- it's groundhog day, raise taxes on the rich, raise taxes on the rich. no economist believes -- if you took every rich person in america and applied it to the debt, that wouldn't do it. >> clayton: and said time for the president starts leading. >> he likes running for office, doesn't leak running around blaming people, and stirring up something there and getting people wrapped around the axle about things they don't have to get excited about. we can handle this in a thoughtful way, but it takes a thoughtful president thinking about what's best for the country and not just campaigning. he got his tax hikes on january 1st, he got what he wanted, got his revenue. let's start running the country, mr. president. >> now to the american people and tried to campaign on this basic sequestration argument saying it's playing well for the american people and sort of winning the campaign on the ground on this. so, i think that democrats are surprised now to learn that maybe people are soured on this whole thing out there because if you look at president obama'
. >> tucker: but it's the same film-- it's groundhog day, raise taxes on the rich, raise taxes on the rich. no economist believes -- if you took every rich person in america and applied it to the debt, that wouldn't do it. >> clayton: and said time for the president starts leading. >> he likes running for office, doesn't leak running around blaming people, and stirring up something there and getting people wrapped around the axle about things they don't have to get excited...